AZ- don't be behind the times, man- Argentina and Hungary also did this- it will come, pension funds are the largest untapped source of money-almost irresistible. Oh, and that .6 percent-yearly, with loss of interest income adds up to a VERY significant number over the life of a fund, say, 30 or 40 years. I think Denninger over at "the market ticker" calculated it out to a 27% loss in value.
http://market-ticker.org/akcs-www?post=185861 Now lets talk about what happens when a tax is started, like the income tax? Ever see the first form? One (1) percent on $20,000 income.
That 20K is $435,500 in today's terms, calculated for inflation. Gee, a lousy one percent of almost a half million don't sound too bad, does it?
And those folks earning $500,000? they had to pay seven(7) percent. Of $10,888,594.79 in todays dollars.
This, my friends, is an example of "the camels nose".